Latest news with #Vacheron
Mint
03-07-2025
- Business
- Mint
Worldline Hires Auditor to Assess Risky Client Portfolio
(Bloomberg) -- Worldline SA hired an external firm to go through its portfolio of risky clients as the payments firm seeks to restore trust following media allegations that it turned a blind eye to fraud pummeled its share price. The audit has been assigned to a firm called Accuracy, the company said in a statement. The company is also hiring Oliver Wyman to review its control systems, with the law firm Paul Hastings LLP spearheading the two assessments. Worldline hopes to release the first conclusions of the in-depth review alongside its earnings later this month, according to the statement. It expects to identify any potential weaknesses and areas for improvement by the end of October. 'In such cases, necessary action plans will be executed to ensure optimal operational integrity,' the company said in the statement. 'Worldline's top management and board of directors are fully committed to strict compliance with regulations and risk prevention standards.' Last week, several media outlets coordinated by the European Investigative Collaborations published reports that Worldline ignored warnings from regulators and continued doing business with risky clients with high fraud rates, including pornographers and dating websites. The company's share price plunged on the news, cutting its market value — which had previously peaked at about €24 billion ($28.1 billion) around four years ago — to below €1 billion. Chief Executive Officer Pierre-Antoine Vacheron has labeled the media reports as an orchestrated attack on the company and said he's considering legal action. The Brussels Public Prosecutor's Office subsequently opened a probe into Worldline's Belgian unit while Sweden's Financial Supervisory Authority said it called the company to a meeting. Inside Worldline, the review will be overseen by a special committee of the company's board along with Vacheron. --With assistance from Jenny Che. (Updates with more details from company statement beginning in second paragraph.) More stories like this are available on
Stuff.tv
14-05-2025
- General
- Stuff.tv
The Vacheron Constantin Overseas Grand Complication is the brand's first sporty minute repeater
Vacheron Constantin has just done something it's never done before: slipped a minute repeater into its sporty Overseas collection. Say hello to the Overseas Grand Complication Openface – an unapologetically complex, technically brilliant watch that doesn't mind getting its lugs wet. Housed in a 44.5mm grade 5 titanium case, this is the first Overseas to feature a minute repeater. That alone is big news. But Vacheron didn't stop there – they also packed in a perpetual calendar, a tourbillon, and a power reserve indicator. All this mechanical magic runs on Calibre 2755 QP, a hand-wound movement just 7.9mm thick. The design is just as clever. A transparent sapphire dial shows off the beautiful movement – bridges with NAC treatment in grey, rhodium-plated wheels in silver, and floating white gold hour markers suspended above blue metallised counters. Pulling off a water-resistant minute repeater is no small feat. The sliding mechanism needed to chime the hours, quarters, and minutes usually leaves cases vulnerable. Vacheron solved it with a year and a half of R&D, reworking the caseback to keep the Overseas' sleek lines while protecting the mechanism inside. The result is a 13.1mm thick case that's water-resistant to 30 metres. Not best dive watch territory, but a notable achievement for such a delicate movement. The minute repeater itself is governed by a proprietary centripetal regulator – silent, precise, and visually striking. Even the repeater hammers are mirror-polished. Peek through the caseback and you'll spot an engraved tribute to Jean-Marc Vacheron, who founded the brand in 1755. Like all Overseas models, it's designed for versatility. The titanium bracelet has a comfort adjustment system and quick-release function. Two extra straps – blue alligator and blue rubber – come in the box. The 'Openface' dial style taps into a long Vacheron tradition that dates back to the 1920s. But the execution here is ultra-modern, blending transparency, floating elements, and contrasting textures. The result is more than complex watchmaking – it's mechanical artwork. The price of the Overseas Grand Complication Openface is available on application, and production is strictly limited. For more information, head to Vacheron Constantin's website. Liked this? The Swatch Scubaqua dive watch is water resistant and ready for summer
South China Morning Post
05-05-2025
- Business
- South China Morning Post
Style Edit: Vacheron Constantin marks its 270th anniversary with new Patrimony and Traditionnelle models, all with a Maltese cross motif on the dial and côte unique finishing
This year, Vacheron Constantin wowed visitors to Watches and Wonders in Geneva with a stunning booth dedicated to the storied maison's 270th anniversary. Central to the celebrations was the brand's emblem since 1880, the Maltese cross, which serves as the central design motif for a stellar line-up of anniversary releases across the collections. Vacheron Constantin Patrimony Moon Phase Retrograde Date. Photo: Handout 'These two collections epitomise the understated elegance of the watches created by Vacheron Constantin over the last 270 years,' says product and innovation director Sandrine Donguy. 'These classic collections are elevated by signature complications, including the retrograde date display; and subtle details, such as the Patrimony's domed dial and the Traditionnelle's fluted caseback. These unexpected twists give each piece a distinctive character, making it a natural decision to honour these timeless designs.' Advertisement All the latest anniversary additions to these two collections include a Maltese cross, uniquely designed for each dial and carefully placed to account for complication displays. Sapphire casebacks reveal 'côte unique' finishing, which was only rediscovered in 2021 while reproducing the Historiques American 1921. The brand's artisans spent more than 500 hours perfecting the technique, now on full display in this year's releases. Vacheron Constantin Traditionnelle Manual-Winding. Photo: Handout 'We wanted the limited editions to illustrate the 270th anniversary with the movements as well as the dial,' says Donguy. 'The finish is both technical and decorative, with the bridges appearing to form a continuous and harmonious line. Perpetuating ancestral skills, preserving knowledge and passing it on are key values that define Vacheron Constantin 's history.' The Traditionnelle collection is known for combining exceptional technical standards and aesthetics, evoking Geneva's 18th century high horology, seen in details such as stepped lugs, fluted casebacks, slender bezels, a railway-type minutes track and dauphine-style hands. Vacheron Constantin Traditionnelle Moon Phase. Photo: Handout This year, the collection sees two celebratory editions of the Manual-Winding and Moon Phase. The latter is presented in a stunning diamond-set pink gold 36mm case and is limited to 270 pieces, driven by the manufacture calibre 1410 AS/270 and showing time, power reserve indication, small seconds and moon phase on a mother-of-pearl dial. Vacheron Constantin Traditionnelle Manual-Winding. Photo: Handout The Manual-Winding sees limited edition runs of 370 pieces each in 950 platinum and 18k 5N pink gold, both in a 38mm case and complete with the calibre 4400 AS/270; and a 270-piece run in a 33mm diamond-set pink gold version with the calibre 1440/270.
CNA
23-04-2025
- Business
- CNA
Worldline postpones earnings guidance as CEO works on new strategy
French digital payments company Worldline will postpone its annual financial outlook update until July, it said on Wednesday, citing its new management and increased global economic volatility. The Paris-based company, which appointed Pierre-Antoine Vacheron as chief executive in March, had said in February that it would issue a more detailed outlook after reporting first-quarter revenue in April. The update is now expected on July 30, when Worldline will publish first-half results, and Vacheron will outline a new strategic plan at a capital markets day in the autumn, the company said. Changes at the French company are already under way, Vacheron said in a statement. The company has launched an initiative to reduce cash expenses by 50 million euros in 2025. Worldline's share price has dropped 93 per cent over the past four years, prompting a "portfolio optimisation process" that was launched by Vacheron's interim predecessor and could lead to asset disposals. "Ultimately the main uncertainty for us is linked to the volatility of the decisions related to the trade war," Vacheron told reporters. If that will lead to a change in consumer behaviour, then it will have an additional impact on business, he added. Worldline also reported first-quarter revenue on Wednesday, falling 2.3 per cent year on year but meeting the 1.07 billion euro ($1.22 billion) expected in an analyst poll compiled by the company. ($1 = 0.8796 euros)
Reuters
23-04-2025
- Business
- Reuters
Worldline postpones earnings guidance as CEO works on new strategy
April 23 (Reuters) - French digital payments company Worldline ( opens new tab will postpone its annual financial outlook update until July, it said on Wednesday, citing its new management and increased global economic volatility. The Paris-based company, which appointed Pierre-Antoine Vacheron as chief executive in March, had said in February that it would issue a more detailed outlook after reporting first-quarter revenue in April. The update is now expected on July 30, when Worldline will publish first-half results, and Vacheron will outline a new strategic plan at a capital markets day in the autumn, the company said. Changes at the French company are already under way, Vacheron said in a statement. The company has launched an initiative to reduce cash expenses by 50 million euros in 2025. Worldline's share price has dropped 93% over the past four years, prompting a " portfolio optimisation process" that was launched by Vacheron's interim predecessor and could lead to asset disposals. "Ultimately the main uncertainty for us is linked to the volatility of the decisions related to the trade war," Vacheron told reporters. If that will lead to a change in consumer behaviour, then it will have an additional impact on business, he added. Worldline also reported first-quarter revenue on Wednesday, falling 2.3% year on year but meeting the 1.07 billion euro ($1.22 billion) expected in an analyst poll compiled by the company. ($1 = 0.8796 euros)
